Bitcoin, Ethereum Fluctuate While Smaller Altcoins Rally
Bitcoin price is seemingly forming a support base above the USD 45,000 level. Ethereum traded to a new all-time high at USD 1,840, XRP is still trading below USD 0.500. BNB, QTUM, MATIC, and AVAX are up by 36% - 71%.
Bitcoin price extended its decline below USD 45,000, but downsides were limited. BTC is back above USD 45,000 and it is currently (13:00 UTC) showing positive signs. If the price stays above USD 45,000, there are chances of a steady rise towards USD 47,000.
Besides, most other major altcoins are trading in a steady uptrend. ETH/USD traded to yet another new all-time high near USD 1,840 and it is correcting gains. XRP/USD is holding gains above USD 0.465, but it is still facing hurdles near USD 0.500.
Total market capitalization
After a break below USD 45,000, bitcoin price recovered higher. BTC is now trading above USD 45,500 and it is showing a few positive signs. If there are more upsides, the bulls might test the USD 47,000 resistance level. Any more upsides might open the doors for a move towards the USD 48,000 level.
If there is a downside extension, the price might remain stable above USD 44,500. The next key support is near USD 43,200 level.
Ethereum price extended its rise above the USD 1,830 level and it traded to a new all-time high near USD 1,840. ETH is currently correcting lower and it is now holding the USD 1,750 support zone. The next major support is near the USD 1,710 level.
On the upside, the price seems to be struggling to remain stable above USD 1,800. A daily close above USD 1,800 could open the doors for a steady increase in the near term.
ADA, litecoin and XRP price
Cardano (ADA) is up over 20% and it is gaining pace above the USD 0.800 level. ADA broke the USD 0.820 level and it could extend its rise towards the USD 0.880 and USD 0.900 levels. The next major hurdle for the bulls is near the USD 1.00 level. On the downside, the USD 0.750 level is a strong support.
Litecoin (LTC) is holding gains near the USD 180 level. LTC is showing positive signs and it might continue higher towards the USD 188 and USD 192 levels. The next major stop is near the USD 200 level. On the downside, the bulls might remain active near the USD 172 level.
XRP price made an attempt to clear the USD 0.500 level, but it failed to hold gains. The price is now trading well below USD 0.500 and it might remain stable above USD 0.480. The next key support is near the USD 0.472 level. On the upside, a close above USD 0.500 could open the doors for a steady rise.
Other altcoins market today
Many altcoins gained over 15%, including AVAX, MATIC, QTUM, HT, BNB, EWT, OKB, RVN, ADA, and FIL. Out of these, AVAX is up 71% and it is trading above USD 45.00.
Overall, bitcoin price is stable above USD 45,000 and USD 44,500. BTC might start a fresh increase if there is a clear break above the USD 46,200 resistance zone.